$20.11 Million in Sales Expected for THL Credit, Inc. (NASDAQ:TCRD) This Quarter
Equities analysts predict that THL Credit, Inc. (NASDAQ:TCRD) will announce $20.11 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for THL Credit’s earnings. The highest sales estimate is $20.45 million and the lowest is $19.86 million. THL Credit reported sales of $20.48 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The company is expected to issue its next earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that THL Credit will report full-year sales of $20.11 million for the current financial year, with estimates ranging from $79.97 million to $81.35 million. For the next financial year, analysts expect that the firm will report sales of $84.45 million per share, with estimates ranging from $81.07 million to $88.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover THL Credit.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings data on Thursday, May 4th. The investment management company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. THL Credit had a return on equity of 10.49% and a net margin of 27.37%. The business had revenue of $19.80 million for the quarter, compared to analysts’ expectations of $20.13 million. During the same quarter in the previous year, the business posted $0.40 EPS. THL Credit’s revenue for the quarter was down 12.3% on a year-over-year basis.
Several equities research analysts recently commented on the company. TheStreet lowered THL Credit from a “b-” rating to a “c” rating in a research report on Monday, April 10th. Keefe, Bruyette & Woods set a $11.00 price target on THL Credit and gave the stock a “hold” rating in a report on Saturday, May 13th. Zacks Investment Research upgraded THL Credit from a “strong sell” rating to a “hold” rating in a report on Thursday, May 11th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Finally, Citigroup Inc. reiterated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $10.92.
Shares of THL Credit (NASDAQ TCRD) traded down 1.08% during midday trading on Wednesday, reaching $10.04. The company had a trading volume of 36,733 shares. The stock’s 50 day moving average is $9.94 and its 200-day moving average is $10.04. THL Credit has a 12-month low of $8.75 and a 12-month high of $11.84.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.64%. THL Credit’s dividend payout ratio is presently 158.82%.
In related news, CEO Sam W. Tillinghast bought 5,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were bought at an average price of $10.01 per share, for a total transaction of $50,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 127,704 shares of the company’s stock, valued at $1,278,317.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought 6,925 shares of company stock worth $69,056 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TCRD. Oxford Asset Management bought a new position in THL Credit during the first quarter worth $110,000. Stifel Financial Corp bought a new position in THL Credit during the first quarter worth $130,000. Founders Financial Securities LLC bought a new position in THL Credit during the first quarter worth $135,000. Nine Chapters Capital Management LLC bought a new position in THL Credit during the first quarter worth $176,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in THL Credit by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock worth $210,000 after buying an additional 3,388 shares in the last quarter. Institutional investors own 48.85% of the company’s stock.
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THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies.
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